Awful Announcing
According to CNBC's Alex Sherman, the two sides are negotiating a price increase with a bid-ask spread midpoint around 50 to 60 percent over CBS's current $2.1 billion annual fee.
The move "simplifies the transaction structure, provides greater certainty of value for WBD stockholders, and accelerates the path to a WBD stockholder vote," Netflix claims.
The letter expresses "serious concerns about the fairness and adequacy of the bidding process," with the undertone being that Paramount could take its offer directly to shareholders.
The company will now have rights for the competition in the United States and several major European markets beginning in 2027.
The future of TNT Sports is up in the air.
Former president of Skydance Media Jesse Sisgold will lead the division.
"This media merger must be blocked as a dangerous concentration of power."
The deal would include TNT Sports.
You've seen David Ellison multiple times in the past year sitting in the front row, cage side with Ari Emanuel and with Dana White."
The deal had been in regulatory limbo for months amid a lawsuit by the Trump administration.
Post-merger, CBS Sports is looking to be more active in live sports acquisition.
DirecTV just filled a major gap in its sports skinny bundle. According to a report by Mollie Cahillane...
The deal ends a drawn-out dispute between the two companies.
This seems to be a tactic by Nielsen to coerce Paramount into renewing its agreement with the viewership measurement company.
It was another strong quarter for Paramount+ as the streamer now has double the subs as Peacock, a rumored potential partner.
Less FBI, more sports?
The NFL has preexisting relationships with Skydance, Paramount and RedBird, making an expanded relationship potentially more natural than an equity deal with Disney.
It was a mixed quarter for Paramount Global, which is also planning a round of layoffs.
"We’ll obviously be paying close attention to the process."
Skydance Media may take control of Paramount Global after all.
Paramount's prolonged sale process is beginning to worry the NFL.
